Economics
Shell, CNOOC take FID on 1.6-MMtpy petrochemical complex expansion in China
CNOOC and Shell Petrochemicals Company Limited (CSPC), a joint venture between Shell Nanhai B.V. and CNOOC Petrochemicals Investment Ltd, has taken a final investment decision to expand its petrochemical complex in Daya Bay, Huizhou, south China.
KT-Kinetics Technology, NEXTCHEM awarded contracts for Petronas hydrogen unit
Part of a new biorefinery within Petronas' Malaysian Pengerang Integrated Complex, the 38,000-m3/hr production unit will supply hydrogen to produce sustainable aviation fuel and hydrogenated vegetable oil.
Chinese, Indian refiners seek new supplies as US sanctions tighten grip on Russian oil
Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers that are designed to curb the revenues of the world's second-largest oil exporter.
Poland's Orlen plans to invest up to nearly $92 B by 2035
The company aims to meet all of Poland's domestic natural gas demand over the next decade by increasing production and boosting LNG contracting, as well as adding gas-fired power generation capacity, energy storage and other infrastructure.
Sinopec Shanghai Petrochemical to invest $2.9 B to upgrade Chinese operations
To maintain its capacity in crude oil processing and make other operational upgrades, the company will shut down existing 18 sets of oil refining devices and install new ones. The new installations will have a capacity to refine 1.2 MMtpy of ethylene.
bp warns of 4Q profit hit, drop in refining margins
bp has warned that its 4Q results will be hit by weaker oil and gas production, refining margins and trading.
Avina Clean Hydrogen completes FEED for 800,000-tpy clean ammonia facility (U.S.)
Avina Clean Hydrogen announced the successful completion of front-end engineering design (FEED) and front-end-loading (FEL-3) for its 2,200-tpd clean ammonia facility located in Texas Gulf Coast.
INEOS closes last remaining synthetic ethanol plant in the UK
High energy prices and high carbon taxes have forced the closure of this strategic UK asset. Sir Jim Ratcliffe, Chairman of INEOS says, “De-industrializing Britain achieves nothing for the environment. It merely shifts production and emissions elsewhere."
Montana Renewables announces closing of $1.44-B U.S. DOE loan for renewable fuels and biomass energy facility
Calumet, Inc. announced the closing of a $1.44-B guaranteed loan facility with the U.S. Department of Energy Loan Programs Office that will fund the construction and expansion of the 300-MMgpy renewable fuels facility owned by Montana Renewables
India halts trade with U.S.-sanctioned Russian companies and tankers
Indian refiners have stopped dealing with U.S.-sanctioned oil tankers and entities, but the country does not expect disruption to Russian crude supplies during a two-month wind-down period.
- IRPC extends abstracts deadline following strong industry interest 4/7
- BDI signs contract with Ghent Renewables for the construction of a new biofuel feedstock pre-treatment plant 4/7
- Update: IATA airlines chief warns aviation industry falling behind on net-zero 4/7
- Improved recycling of plastic from packaging waste 4/7
- India not to raise petrol, diesel retail prices despite tax hike 4/7
- China teapot oil refiners improve run rates but demand woes, sanctions weigh 4/7
